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Stock Market & Financial Investment News

News Breaks
February 7, 2014
05:31 EDTGPS, LB, COSTMany retailers feel January's cold, WSJ reports
Winter storms in January affected many retailers nationwide in a month when many stores look to clear out inventory after the holiday shopping season, reports the Wall Street Journal. Some companies, like Gap (GPS), L Brands (LB) and Costco (COST), were able to overcome that trend.Reference Link
News For GPS;LB;COST From The Last 14 Days
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October 8, 2014
16:50 EDTGPSGap CEO Glenn Murphy says board planned CEO succession
Gap's outgoing chairman and CEO Glenn Murphy stated that the CEO transition to Art Peck was planned in advance and was a part of the company's growth plan. Murphy stated that the board asked him to stay but he is not able to make a personal commitment to be at the company to execute long-term plans. Murphy says he will work closely with Peck during the transition period. Comments made during CEO transition conference call.
16:08 EDTGPSGap trades sharply lower in the extended session
The stock is down over 8% to $38.49 in the after hours market. At that price next support is at $37.25. Resistance is at $39.48.
16:05 EDTGPSGap reports September net sales up 1% vs. last year
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16:03 EDTGPSGap names Art Peck to succeed Glenn Murphy as CEO
Gap Inc. announced that Art Peck, the president of its Growth, Innovation and Digital division, has been selected by the board to succeed Glenn Murphy as the company’s next CEO, effective February 1, 2015. Murphy made the personal decision to retire from the company at the end of the fiscal year, allowing for a smooth leadership transition. Peck joined the company in 2005. As part of the transition, Bob Fisher will become non-executive Chairman of the board, and Peck will join the board, effective February 1, 2015.
16:01 EDTGPSGap names Art Peck to succeed Glenn Murphy as CEO
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15:58 EDTCOSTCostco price target raised to $140 from $130 at RW Baird
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12:25 EDTCOSTOn The Fly: Midday Wrap
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11:23 EDTCOSTCostco sees FY15 CapEx $2.5B-$2.7B
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11:14 EDTCOSTCostco expects to open 31 new warehouses and relocate 4 locations in FY15
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11:10 EDTCOSTCostco reports September SSS up 4%, September revenue $10.57B
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09:20 EDTCOSTOn The Fly: Pre-market Movers
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05:21 EDTCOSTCostco reports Q4 EPS $1.58, consensus $1.52
Reports Q4 revenue $34.75B, consensus $35.47B. Reports Q4 SSS up 6%. Reports Q4 SSS, excluding negative impacts from gasoline price deflation and foreign exchange, up 7%.
October 7, 2014
15:16 EDTCOSTNotable companies reporting before tomorrow's open
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14:36 EDTCOSTCostco October weekly 125 straddle priced for 2.3% move into Q4
14:08 EDTCOSTCostco technical notes before earnings
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11:34 EDTLBChristopher & Banks plummets after cutting Q3 revenue outlook
Shares of specialty women's apparel retailer Christopher & Banks (CBK) are sinking after the company lowered its third quarter revenue outlook. WHAT'S NEW: This morning, Christopher & Banks lowered its Q3 revenue outlook to $114M-$118M from its previous guidance of $122M-$124, trailing the consensus of $123.98M. The company also cut the top end of its Q3 margin forecast, lowering its margin growth outlook to 75-100 basis points from its prior view of 75-125 bps. SG&A dollars for the quarter are expected to be approximately $33.5M-$34M, below its prior guidance of $34M-$34.5M. Christopher & Banks expects its inventory at the end of the quarter will remain higher than the comparable prior year period on a dollar per square foot basis, but at a level lower than at the end of Q2, due to planned higher levels of core inventory. WHAT'S NOTABLE: The company believes sales have been negatively impacted by continued softness in mall traffic and lower than expected sales from its September fashion show. The company noted that the demand for fashion merchandise exceeded planned inventory levels, due to late receipts associated with the West Coast port disruptions. President and Chief Executive Officer LuAnn Via said in a statement, "We believe that the continued softness in traffic trends, coupled with the difficult overall retail environment, have adversely affected our sales as compared to our initial expectations for the quarter." She said the firm assumes promotional activity will continue to be aggressive and that the current environment will continue to be challenging, creating continued pressure on sales and margins. PRICE ACTION: In late morning trading, Christopher & Banks fell $2.69, or about 30%, to $6.40 on nearly four times its average daily trading volume. Despite today's pull-back, the shares have only lost approximately 2% over the past 12 months. OTHERS TO WATCH: Other specialty women's retailers include Chico's FAS (CHS), down 1.28%, Ann Inc. (ANN), down 2.1%, and L Brands (LB), down 1.13%.
October 6, 2014
13:43 EDTCOSTCostco October volatility increases into Q4 and outlook
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10:04 EDTLBOn The Fly: Analyst Upgrade Summary
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08:21 EDTLBL Brands upgraded at BMO Capital
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07:10 EDTLBL Brands upgraded to Outperform from Market Perform at BMO Capital
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